Third-Party Research and Tools

Hudson Street 3RB provides clients more flexible ways to procure research and execute their trades.

Product offerings
• Research XPRESS
• Client Commission Arrangements (CCA’s) and Commission Sharing Agreements (CSA’s)
• Introducing Broker (IB) relationships

Goldman Sachs institutional portal offers a web-based resource for tracking commission dollars, transactions and research services provided.

Advantages
Research XPRESS allows clients to consolidate execution and the process of procuring research simultaneously. By separating the procurement of research from the execution of trades, clients are better able to choose the execution provider that best meets their needs. By consolidating execution with Goldman Sachs, clients are afforded the opportunity to leverage their commission dollars by accessing other valuable services from Goldman Sachs. Reducing the number of executing brokers leads to better trade anonymity.

Client Commission Arrangements allow clients to execute trades via Goldman Sachs and apply commission dollars to Section 28(e) eligible research purchased from third-party organizations. Goldman Sachs facilitates contract coordination and pays for the research. Research firms can send invoices and bills directly to Goldman Sachs or clients can assess the value and notify Goldman Sachs. We either apply a ratio to “convert” the commission from hard dollars to CCA eligible dollars or apply a transparent, cost-plus commission pricing model to your account.

Introducing Broker agreements allow clients to execute transactions at Goldman Sachs and credit, on a specific transaction basis, the introducing broker for the research and brokerage services.

If you are interested in learning more, please visit our Web site or please contact Hudson Street 3RB.